Sport Betting Industry Looks To Protect Itself

    Overview

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    Recent Massachusetts Sports Gambling Proposal Features Massive Tax Increase and Restriction on Real-Time Betting

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    Massachusetts sports betting might look completely various if a brand-new costs proposed in the Senate achieves success. And if history is any indication, regulated sports betting in other states could likewise alter drastically.

    SD 1657 was presented by Sen. John Keenan. “An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting” intends to increase the existing sports betting tax rate from 20% to 51%. Furthermore, Sen. Keenan requires a total ban on live betting (in-game betting) and prop bets.

    The main thing to keep in mind is that Massachusetts has actually been at the leading edge of stricter sports betting policies. The 2nd thing to know is that the language of this costs is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.

    This expense was presented not long after previous Massachusetts Governor and current NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting regulation.

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    So, while this is currently a Massachusetts bill, it’s likely to affect other states that provide managed sports betting.

    A closer take a look at SD 1657

    Taxation

    Beginning with the tax rate boost, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax increase at the last legal session, but it was declined. This increase would have come in the state’s budget plan expense.

    Only 3 markets have tax rates of 51%, the greatest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks 6th highest.

    Prohibiting live betting and prop betting

    The measure prohibits in-play (live betting) or prop betting. Just straight wagers would be enabled, limiting sportsbooks to offering just moneyline, spread, and overalls.

    While Massachusetts and other markets have constraints on collegiate wagering, this would impact even expert sporting events.

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    The costs likewise looks for to include perks and same-game parlays to the classification of “unfair and misleading practices.” Sportsbooks favour same-game parlays due to their high “hold” portion, the amount of money they deflect each $1 wagered.

    Player Limits

    SD 1657 likewise aims to create compulsory everyday and regular monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an ‘affordability evaluation’ which involves examining savings account. A gamer can not wager more than 15% of the amount in their account.

    Massachusetts would end up being the first market to require a cost evaluation on bettors.

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    Advertising restrictions

    Keenan also wishes to get rid of advertising throughout televised sporting events. The procedure would restrict sportsbooks from running ads throughout games. The Commission has looked into creating a ban on in-game advertisements before. Nevertheless, this did not go through as nationwide television offers make this tough to implement.

    Will the step pass?

    The step is severe in its changes to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely lead to pushback from local sportsbooks and industry supporters.

    Because of this, the measure will likely be fought in the Senate and the House of Representatives. In the previous session, Keenan failed to raise the tax rate.

    He would need to convince the other senators who did not support his initiative before to change their minds. If and when the Senate discusses this step, it is difficult to tell how it will be gotten.